The Rebuilding Ireland Home Loan launched on 1 February 2018. Prior to its launch, an initial tranche of €200 million of long-term fixed rate finance was borrowed by the Housing Finance Agency to provide funds for the scheme to local authorities. Due to a higher than anticipated demand for the scheme, the Department of Housing, Planning and Local Government requested sanction for additional funding in June of this year and subsequently funding for the scheme has been increased from €200 million to €563 million for 2018 and 2019 combined. In line with the sanction issued by my Department, the Department of Housing, Planning and Local Government is expected to undertake a performance review of the scheme post year-end.
As the Rebuilding Ireland Home Loan is funded through long-term fixed-rate finance from the Housing Finance Agency, any possible extension of funding would not necessarily arise in the context of the Budget which primarily deals with voted current expenditure. The extension of the Rebuilding Ireland Home Loan is a housing policy issue and a matter for the Department of Housing, Planning and Local Government in the first instance, hence any questions on such should be directed to my colleague the Minister for Housing, Planning and Local Government.